How Do I Know If I Have Bad Credit in Gresham, OR?
When you borrow money — like a car loan — Oregon lenders use your credit score to figure out the likelihood of you repaying it. Many factors play into your credit score, including the age of your credit accounts, the number of open accounts you have, any remaining loan balances, and your repayment history. While every Gresham, OR lender has its own criteria for what’s considered a poor credit score, you might be seen as having bad credit if you have a score below 600. Lenders will also be wary if you've gone through bankruptcy, repossession, or foreclosure.
Can I Get a Car Loan in Gresham, OR If I Have Bad Credit?
Many car buyers have asked, “Can I get a car loan with a credit score of 600 or less?” The short answer is yes. Keep in mind, you'll likely face some challenges financing a car with bad credit in Gresham, OR. For starters, not every lender offers poor or no credit loans, so you may need to put in extra effort to find a lender who will help with your financing. Thankfully, myAutoloan has lending partners that specialize in bad credit loans.
Once you find a lender in Oregon, you may notice your low credit score impacts your loan. A poor credit score might limit your borrowing and lead to higher interest rates. High interest rates also mean higher monthly payments and more spent over the life of the loan. Use our Interest Rate Estimator and Payment Calculator to see what the monthly payment on your Gresham loan might look like before even applying.
Do your potential interest rate and monthly payment have you sweating? You might want to consider boosting your credit score before applying for auto loans in Gresham, Oregon. Check out our Guide to Better Credit for Auto Financing to better understand your credit score and how you can raise it.
Find the Best Deal on Gresham, OR Poor Credit Car Loans
A bad credit score can increase the rate on your car loan, making it more crucial than ever to compare lenders in Gresham, OR and find the right deal. myAutoloan wants to help you find the best loan — despite your credit history. All you have to do is choose your offer type and complete a confidential, secure application. We'll show you up to four loans at once, allowing you to compare rates in minutes. After, you can select the right loan for you and head to your local Gresham dealership with a loan in hand.
Why wait to get a new ride? Your poor credit doesn’t have to stop you. Apply now and compare up to four bad credit auto loans in Gresham, OR through myAutoloan!